ConforMIS, Inc. (CFMS) Shares Bought by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. raised its position in ConforMIS, Inc. (NASDAQ:CFMS) by 1,313.6% during the first quarter, Holdings Channel reports. The firm owned 148,147 shares of the medical instruments supplier’s stock after buying an additional 137,667 shares during the period. Goldman Sachs Group Inc.’s holdings in ConforMIS were worth $773,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Marathon Capital Management acquired a new position in ConforMIS during the first quarter worth approximately $1,052,000. Columbus Circle Investors acquired a new position in ConforMIS during the first quarter worth approximately $792,000. Wellington Management Group LLP boosted its position in ConforMIS by 2.4% in the first quarter. Wellington Management Group LLP now owns 5,644,206 shares of the medical instruments supplier’s stock worth $29,463,000 after buying an additional 132,211 shares during the period. UBS Group AG boosted its position in ConforMIS by 53.0% in the first quarter. UBS Group AG now owns 269,551 shares of the medical instruments supplier’s stock worth $1,407,000 after buying an additional 93,330 shares during the period. Finally, Platinum Investment Management Ltd. boosted its position in ConforMIS by 49.0% in the first quarter. Platinum Investment Management Ltd. now owns 271,256 shares of the medical instruments supplier’s stock worth $1,415,000 after buying an additional 89,200 shares during the period. 38.58% of the stock is owned by institutional investors.
Shares of ConforMIS, Inc. (NASDAQ CFMS) traded down 2.76% during midday trading on Wednesday, reaching $3.52. The company had a trading volume of 68,134 shares. The company’s market capitalization is $157.82 million. The company has a 50 day moving average of $4.32 and a 200 day moving average of $5.11. ConforMIS, Inc. has a one year low of $3.22 and a one year high of $10.93.
ConforMIS (NASDAQ:CFMS) last released its quarterly earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.08. ConforMIS had a negative return on equity of 66.61% and a negative net margin of 72.87%. The business had revenue of $18.50 million for the quarter, compared to the consensus estimate of $19.34 million. During the same quarter last year, the business posted ($0.34) earnings per share. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts predict that ConforMIS, Inc. will post ($1.30) EPS for the current fiscal year.
A number of equities analysts have recently commented on CFMS shares. Canaccord Genuity set a $8.00 price target on ConforMIS and gave the stock a “hold” rating in a report on Thursday, May 11th. Zacks Investment Research cut ConforMIS from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. set a $9.00 price target on ConforMIS and gave the stock a “buy” rating in a report on Wednesday, May 10th. BTIG Research reissued a “hold” rating on shares of ConforMIS in a report on Sunday, July 16th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $5.00 price target (down previously from $6.00) on shares of ConforMIS in a report on Friday, August 4th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. ConforMIS presently has a consensus rating of “Buy” and a consensus target price of $7.75.
In other ConforMIS news, Director Bradley Langdale sold 6,722 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $4.30, for a total transaction of $28,904.60. Following the sale, the director now owns 26,533 shares in the company, valued at $114,091.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.55% of the company’s stock.
ConforMIS Company Profile
ConforMIS, Inc is a medical technology company. The Company uses its iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants, which are individually sized and shaped, to fit each patient’s anatomy. The Company’s iFit technology platform is applicable to various joints.
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